Disliked{quote} Hi Scrumy Just because it is a WCC does not mean it qualifies for anything. Price determines at those levels (which WILL change) what a BASIC PASR trade is. Time frame dependant on your trading style and the time frame you are trading, not necessarily a WCC level. Look for confluence and don't just trade the level from H1 and H4. GBP can and will go anywhere at the minute.Ignored
I also was thinking about the importance of WCC's which are very young - like the one on GBPNZD, which is just 1 week old. A WCC can happen even in a rip roaring trend (think of an IB - pause bar) and does not mean that the WCC's top and bottom SR are set in stone. So my thinking is that an "old" WCC's SR - like e.g. on AUDNZD (9 weeks!) has much more importance than the one on GBPNZD (1 week).
What exactly do you mean with confluence? Confluence of PA at SR? Confluence with the power of timeframes (which I think is not important for Basic PASR)?
Accept the risk!